Mutual fund and exchange-traded fund (ETF)
assets and sales
TORONTO, April 23,
2024 /CNW/ - The Investment Funds Institute of
Canada (IFIC) today announced
investment fund net sales and net assets for March 2024.
Mutual fund assets totalled $2.055
trillion at the end of March, up by $43.1 billion or 2.1 per cent since February.
Mutual fund net sales were $0.2
billion in March.
ETF assets totalled $417.1 billion
at the end of March, up by $13.4
billion or 3.3 per cent since February. ETF net sales were
$4.0 billion in March.
March insights
- Mutual fund and ETF assets increased for the fifth
consecutive month. For mutual funds, assets increased by 13.5 per
cent, or by $244.4 billion since
October 2023. ETF assets increased by
20.8 per cent or by $71.8
billion.
- Bond funds have been the largest source of mutual fund inflows
and the best-selling asset category for the past four months. Prior
to December, money market funds saw the highest inflows each month
going back to March 2023.
- For ETFs, inflows remained concentrated in equity funds.
Year to date, equity funds accounted for 74.1 per cent of total net
sales.
Mutual fund net sales/net redemptions ($
millions)*
Asset
class
|
Mar
2024
|
Feb
2024
|
Mar
2023
|
YTD
2024
|
YTD
2023
|
Long-term
funds
|
|
|
|
|
|
Balanced
|
(2,727)
|
(871)
|
(4,167)
|
(8,073)
|
(9,512)
|
Equity
|
722
|
1,548
|
(2,013)
|
1,212
|
(2,257)
|
Bond
|
1,688
|
1,768
|
480
|
7,198
|
6,307
|
Specialty
|
626
|
777
|
456
|
1,969
|
1,169
|
Total long-term
funds
|
309
|
3,221
|
(5,244)
|
2,306
|
(4,293)
|
Total money market
funds
|
(107)
|
(40)
|
1,800
|
340
|
4,118
|
Total
|
202
|
3,182
|
(3,445)
|
2,646
|
(175)
|
Mutual fund net assets ($ billions)*
Asset
class
|
Mar
2024
|
Feb
2024
|
Mar
2023
|
Dec
2023
|
Long-term
funds
|
|
|
|
|
Balanced
|
938.3
|
923.4
|
903.7
|
904.4
|
Equity
|
784.3
|
760.8
|
682.9
|
714.7
|
Bond
|
250.4
|
247.2
|
233.6
|
242.4
|
Specialty
|
30.1
|
28.9
|
23.7
|
27.0
|
Total long-term
funds
|
2,003.2
|
1,960.2
|
1,843.8
|
1,888.5
|
Total money market
funds
|
52.1
|
52.0
|
39.0
|
51.0
|
Total
|
2,055.3
|
2,012.2
|
1,882.8
|
1,939.5
|
* Please
see below for important information regarding this data.
|
ETF net sales/net redemptions ($ millions)*
Asset
class
|
Mar
2024
|
Feb
2024
|
Mar
2023
|
YTD
2024
|
YTD
2023
|
Long-term
funds
|
|
|
|
|
|
Balanced
|
427
|
450
|
156
|
1,280
|
387
|
Equity
|
2,935
|
4,032
|
3,784
|
9,363
|
4,422
|
Bond
|
701
|
1,209
|
2,297
|
2,230
|
2,585
|
Specialty
|
(109)
|
22
|
(190)
|
(434)
|
615
|
Total long-term
funds
|
3,953
|
5,713
|
6,047
|
12,440
|
8,010
|
Total money market
funds
|
1
|
(207)
|
795
|
195
|
2,441
|
Total
|
3,954
|
5,506
|
6,842
|
12,634
|
10,450
|
ETF net assets ($ billions)*
Asset
class
|
Mar
2024
|
Feb
2024
|
Mar
2023
|
Dec
2023
|
Long-term
funds
|
|
|
|
|
Balanced
|
17.3
|
16.5
|
13.0
|
15.1
|
Equity
|
261.1
|
250.6
|
209.3
|
233.0
|
Bond
|
95.9
|
94.8
|
84.4
|
94.6
|
Specialty
|
17.2
|
16.3
|
11.8
|
14.4
|
Total long-term
funds
|
391.5
|
378.2
|
318.4
|
357.2
|
Total money market
funds
|
25.6
|
25.6
|
18.7
|
25.3
|
Total
|
417.1
|
403.8
|
337.1
|
382.5
|
* See below
for important information about data.
|
IFIC direct survey data (which accounts for approximately 87 per
cent of total mutual fund industry assets and approximately 80 per
cent of total ETF industry assets) is complemented by estimated
data to provide comprehensive industry totals.
IFIC makes every effort to verify the accuracy, currency
and completeness of the information; however, IFIC does not
guarantee, warrant, represent or undertake that the information
provided is correct, accurate or current.
© The Investment Funds Institute of Canada. No reproduction or republication in
whole or in part is permitted without permission.
* Important information about investment funds data
- Mutual fund data is adjusted to remove double counting arising
from mutual funds that invest in other mutual funds.
- Starting with January 2022 data,
ETF data is adjusted to remove double counting arising from
Canadian-listed ETFs that invest in units of other Canadian-listed
ETFs. Any references to IFIC ETF assets and sales figures prior to
2022 data should indicate that the data has not been adjusted for
ETF of ETF double counting.
- The balanced funds category includes funds that invest directly
in a mix of stocks and bonds or obtain exposure through investing
in other funds.
- Mutual fund data reflects the investment activity of Canadian
retail investors.
- ETF data reflects the investment activity of Canadian retail
and institutional investors.
About IFIC
The Investment Funds Institute of Canada is the voice of Canada's investment funds industry. IFIC
brings together 150 organizations, including fund managers,
distributors and industry service organizations, to foster a
strong, stable investment sector where investors can realize their
financial goals. By connecting Canada's savers to Canada's economy, our industry contributes
significantly to Canadian economic growth and job creation. Learn
more about IFIC
SOURCE The Investment Funds Institute of Canada